U.S. Energy Policy Must Support Natural Gas In Appalachia And West Texas

Appalachia and the Permian are the main reasons why U.S. C02 emissions have been falling faster than any other nation.

Gas usage increases even under the most stringent of environmental policies under International Energy Agency modeling.

 

 

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Source: Forbes.com

Natural Gas Price Prediction – Prices Whipsaw but Remain Buoy on Strong LNG Deliveries

Natural gas prices whipsawed testing lower levels and then rebounding to close up 0.5% on the trading session.

Natural gas delivering to LNG facilities hit a record in July.

Natural gas delivered by pipelines to Mexico and to US LNG export facilities reached 10.9 Bcf per day in July and averaged 10.0 Bcf per day in the first seven months of this year, 30% more than in the same period of 2018.

 

 

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Source: FXempire.com

Oil prices climb after Saudi oilfield attack

Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni.

Brent crude was up 64 cents, or about 1.1 per cent, at $59.28 a barrel at 0255 GMT, US crude was up 55 cents, or 1 per cent, at $55.42 a barrel.

 

 

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Source: TheHinduBusinessLine.com

Yemen rebel drone attack targets remote Saudi oil field

DUBAI, United Arab Emirates — Drones launched by Yemen’s Houthi rebels attacked a massive oil and gas field deep inside Saudi Arabia.

The attack on the Shaybah oil field, which produces some 1 million barrels of crude oil a day near the kingdom’s border with the United Arab Emirates

 

 

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Source: The Washington Post

Oil steadies as Saudi, Kuwait signals offset demand fears

Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies.

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have agreed to cut 1.2 million barrels per day (bpd) since Jan. 1.

He said fears of a global economic downturn were “exaggerated,” and said global demand for crude should pick up in the second half, helping reduce the surplus in oil inventories gradually.

 

 

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Source: REUTERS.COM

Occidental, Ecopetrol form $1.5 billion joint venture

Occidental Petroleum and Colombia’s Ecopetrol have announced a $1.5 billion joint venture to develop acreage in the Midland Basin.

The joint venture is comprised of 97,000 net acres of Occidental’s holdings across Andrews, Ector, Glasscock, Howard, Martin, Midland, Reagan and Upton counties.

 

 

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Source: mrt.com

 

Oil prices rise on expectations of more OPEC output cuts

Saudi Arabia has said it planned to maintain its crude oil exports below 7 million barrels per day in August and September to bring the market back to balance and help absorb global oil inventories

The United Arab Emirates also will continue to support actions to balance the oil market, the country’s energy minister Suhail Al-Mazrouei said.

 

 

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Source: ARABNEWS.COM

Qatar invests $550 million in Permian midstream operator

Oryx Midstream Services, the largest privately-held midstream crude operator in the Permian basin.

Upon completion of the remaining part of the system under construction, Oryx’s total transportation capacity will exceed 900,000 barrels per day and access multiple takeaway options.

The partnership is the latest in a series of investments undertaken by QIA across the US where QIA aims to increase investment to $45 billion in the coming years.

 

 

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Source: WORLDOIL.com

WV oil and gas production reaches record high for tenth consecutive year

Natural gas production in the state rose to 1.8 trillion cubic feet in 2018 from 1.5 trillion cubic feet in 2017, a year-over-year increase of 17 percent.

West Virginia household consumes about 72 thousand cubic feet of natural gas per year,” she said. “We produce enough gas in one day to meet the needs of all West Virginians.”

 

 

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Source: VWNEWS.com

Exxon, Chevron move to dominate Permian as smaller players pull back

The Big Oil companies ExxonMobil and Chevron are keeping their promises to dominate the Permian Basin

ExxonMobil has, by far, become the Permian’s most active driller with more than 50 rigs operating in the West Texas oil field, increasing production there by nearly 90% in 12 months

 

 

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Source: businessreport.com